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by OZe on October 31st, 2009

OZe

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How do credit card companies calculate what your minimum payment should be?

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  • by Jon...AKA...1000 horse dodge on October 31st, 2009

    Jon...AKA...1000 horse dodge

    The minimum payment usually is the interest for the carried amount plus 2% of the principal amount owed...Its designed to never get your account paid but instead make money off you by carrying a balance forward to up the interest payment each month with out paying your principal, so every month they make more money off you....

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